Neurogene (NASDAQ:NGNE) Trading Up 5.2% – What’s Next?

Neurogene Inc. (NASDAQ:NGNE) rose 5.2% on Tuesday . The stock traded as high as $38.21 and last traded at $38.13. 91,933 shares traded hands during trading, a decline of 51% from the average daily volume of 188,166 shares. The stock had previously closed at $36.24.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Canaccord Genuity Group decreased their price objective on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. HC Wainwright lowered their target price on Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Guggenheim increased their target price on shares of Neurogene from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a report on Friday, July 17th. Finally, UBS Group set a $70.00 price objective on Neurogene in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Neurogene Stock Performance

The firm has a market cap of $738.61 million, a P/E ratio of -7.34 and a beta of 1.69. The firm’s fifty day simple moving average is $36.20 and its 200 day simple moving average is $28.80.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.42) by ($0.11). On average, equities research analysts predict that Neurogene Inc. will post -5.62 earnings per share for the current year.

Insider Buying and Selling at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,200 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $36.13, for a total transaction of $151,746.00. Following the transaction, the chief financial officer directly owned 84,040 shares in the company, valued at $3,036,365.20. This represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,600 shares of company stock valued at $339,932. 11.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Neurogene

Several large investors have recently added to or reduced their stakes in NGNE. BNP Paribas Financial Markets boosted its position in shares of Neurogene by 89.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock worth $36,000 after purchasing an additional 978 shares during the period. State of Wyoming acquired a new stake in shares of Neurogene in the 2nd quarter valued at approximately $31,000. ADAR1 Capital Management LLC boosted its position in Neurogene by 3.4% during the third quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after purchasing an additional 1,008 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after acquiring an additional 1,059 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Neurogene in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.